One of the common ways this works is that the regulator keeps adding more and more complex regulations.
It's counterintuitive that a major company welcomes or instigates added regulations that will cost $20M/year to comply with. But since that makes it more expensive to start competing companies, they can make a lot more money from their increasingly secure oligopoly position.
One of the common ways this works is that the regulator keeps adding more and more complex regulations.
It's counterintuitive that a major company welcomes or instigates added regulations that will cost $20M/year to comply with. But since that makes it more expensive to start competing companies, they can make a lot more money from their increasingly secure oligopoly position.